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Frequently Asked Questions
What is Positive Physicians Insurance Exchange?
Positive Physicians is a Pennsylvania domiciled, reciprocal insurance exchange licensed by the Pennsylvania Insurance Department. The company is dedicated to serving the needs of its insured physicians.
What kinds of insurance coverage do insurance exchanges provide?
Coverage is provided on a claims made basis. Prior acts coverage is also available.
Is the company recognized by the medical community?
Yes, the company has the endorsement of the Pennsylvania Orthopaedic Society.
Who does Positive Physicians Insurance Exchange Insure?
PPIX works with all Pennsylvania physicians except for Neurosurgery, Cardiothoracic Surgery and OB-GYN.
How will you benefit by insuring with Positive Physicians?
As an insurance company owned by its members, insurance exchanges, like mutuals, offer their members greater input over their liability programs. In addition, Positive Physicians’ Medical Review Board assures policyholders an understanding of their claim history as medical practitioners.
PPIX underwriting policies and procedures are based upon a sound understanding of the Pennsylvania marketplace, but also incorporate its medical review board’s experience to get a real life understanding of an applicant’s risk profile.
What are the goals of Positive Physicians Insurance Exchange?
The mission of Positive Physicians Insurance Exchange is to provide a stable, long term, physician-driven resource for medical malpractice insurance that will allow its policyholders the peace of mind to grow and develop their practices.
What is the management structure of the company?
Founded by physicians, the company’s top two officers are practicing physicians. In addition, a Medical Review Board is comprised of peers from various specialties and geographically representative regions of the state. Board supervision extends to every aspect of the company. Regulatory compliance with the PA Department of Insurance is handled by Wilmington Trust SP Services, Inc., one of the nation’s premier captive management organizations. Claims and risk services are provided by Gateway Risk Services, an organization that is well-known in Pennsylvania for its ability to act as a third party interface.
What does it cost to join?
To join PPIX, physicians pay a one-time subscription fee, which is used to fund the capital reserve. The subscription fee is in addition to their first year premium. The subscription fee is based on the mature premium for each physician specialty. Premium and capital financing are offered at reasonable and competitive rates for policyholder convenience.
Does PPIX have a reinsurance policy?
Yes, with Lloyd’s of London.
Is PPIX for me?
If you are tired of rising insurance premiums and have had a bad experience with a commercial insurer, our program will benefit you. As a member of PPIX, you are an active participant in our risk management model and see first hand how strong customer service, dedicated teamwork, knowledgeable management and leading experts in liability insurance can protect your assets while you grow your practice.
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